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Outputs (8)

International Trade and the Interaction of Labour Market Frictions and Endogenous Firms Exit: An Examination of Labour Productivity and Trade Dynamics (2020)
Working Paper
Nicolae, A., & Nower, M. (2020). International Trade and the Interaction of Labour Market Frictions and Endogenous Firms Exit: An Examination of Labour Productivity and Trade Dynamics

How do the interactions between non-trading firms and labour market frictions impact the domestic and international transmission of macroeconomic shocks? In this paper we explore the impact of these interactions on labour productivity and unemploymen... Read More about International Trade and the Interaction of Labour Market Frictions and Endogenous Firms Exit: An Examination of Labour Productivity and Trade Dynamics.

International trade, non-trading firms and their impact on labour productivity (2019)
Working Paper
Millard, S., Nicolae, A., & Nower, M. (2019). International trade, non-trading firms and their impact on labour productivity

In this paper we examine the impact of non-trading firms on labour productivity and its persistence in response to macroeconomic shocks, through their entry and exit into the domestic market, in a model with monopolistic competition and heterogeneous... Read More about International trade, non-trading firms and their impact on labour productivity.

Stock market literacy, trust, and participation (2014)
Journal Article
Balloch, A., Nicolae, A., & Philip, D. (2015). Stock market literacy, trust, and participation. Review of Finance, 19(5), 1925-1963. https://doi.org/10.1093/rof/rfu040

This article studies the importance of stock market literacy and trust for stock ownership decisions. We find that these two distinct channels simultaneously explain not only the probability of participation, but, conditional on participation, also e... Read More about Stock market literacy, trust, and participation.

The Effect of the Financial Crisis on TFP Growth: A General Equilibrium Approach. (2014)
Working Paper
Millard, S., & Nicolae, A. (2014). The Effect of the Financial Crisis on TFP Growth: A General Equilibrium Approach

In this paper, we use a simple endogenous growth model to show how a financial crisis might have a permanent effect on the level of total factor productivity (TFP). In the model, a financial shock leads to a rise in the spread between the rate of int... Read More about The Effect of the Financial Crisis on TFP Growth: A General Equilibrium Approach..

The Output Effect of a Transition to Price Stability When Velocity is Time-varying (2010)
Journal Article
Evans, L., & Nicolae, A. (2010). The Output Effect of a Transition to Price Stability When Velocity is Time-varying. Journal of Money, Credit and Banking, 42(5), 859-878. https://doi.org/10.1111/j.1538-4616.2010.00310.x

This paper explores the effect of time-varying velocity on output responses to policies for reducing/stopping inflation. We study a dynamic general equilibrium model with sticky prices in which we introduce time-varying velocity. Specifically, we end... Read More about The Output Effect of a Transition to Price Stability When Velocity is Time-varying.

Return the output effect of stopping inflation when velocity is time varying (2007)
Working Paper
Evans, L., & Nicolae, A. (2007). Return the output effect of stopping inflation when velocity is time varying

This paper explores the effect of time varying velocity in a transition to price stability. Nonstationary velocity, expressed asfunction of consumption, is made endogenous in Ireland's (1997) model. We find that the disinflationary booms found by Bal... Read More about Return the output effect of stopping inflation when velocity is time varying.

The impact of imperfect credibility in a transition to price stability (2006)
Journal Article
Nicolae, A., & Nolan, C. (2006). The impact of imperfect credibility in a transition to price stability. Journal of Money, Credit and Banking, 38(1), 47-66

In this paper we study the impact of a temporary lack of credibility in a transition to price stability.We quantify the effects of a period of disinflation on temporary output losses, and the impact of the lack of credibility on the optimal speed of... Read More about The impact of imperfect credibility in a transition to price stability.